Not only is social media rocking the marketing world in terms of brand building and growing awareness, but according to a recent report by eMarketer, social media has a strong influence on consumers in the purchase funnel.
74% of consumers agree or strongly agree that they choose a product based on information they found online; specifically, customer service anecdotes.
The source of this information varies from search engines to blogs and discussion forums, among other user-generated content web sites.
Even more interesting is the data showing exactly when consumers are looking for this information. The majority are doing social media research during early shopping research or when trying to decide between a few different products. This information shows how important brand building in the social media marketplace really is, especially for consumer brands looking to drive sales and e-commerce.